GOING GLOBAL

Fed's outlook benefits Asia

Asian stocks climbed to 16-year highs Wednesday, led by Toyota Motor Corp. and other exporters, after Federal Reserve officials suggested U.S. policymakers are almost finished raising rates.

The Morgan Stanley Capital International Asia-Pacific index added 0.2 percent in Tokyo to reach its highest level since January 1990. Seven of its 10 industry groups gained. Canon Inc., the world's biggest digital camera-maker, rose to a record.

Japan's Nikkei 225 index lost 0.3 percent, and the broader Topix index fell 0.2 percent. Thailand's SET index had the biggest jump in Asia, climbing 3.1 percent, and closed at its highest level since January 2004.

Stock indexes in Australia, New Zealand and India rose to records.

Europe rises: European stocks rose, led by mining companies, as Credit Suisse said the shares still do not reflect the outlook for higher metal prices.

The Dow Jones Stoxx 600 added 0.4 percent in London. Benchmarks climbed in all of the 18 Western European markets except Spain and Austria.